-LRB- CNN -RRB- -- When it comes to deciding where the money goes , the Lotus Formula One team says its main priority is the car -- not the star driver who sits in the cockpit .

Kimi Raikkonen said last week that he decided to leave it and rejoin Ferrari for the 2014 season because Lotus `` have n't got my salary . ''

But the team , owned by Luxembourg-based investment group Genii Capital , has now responded by explaining that it prefers to focus its finances on developing the car , even if it means seeing their driving talent walk away .

Raikkonen has posted Lotus ' only victory this year , with himself and the team both fourth in the respective driver and constructor standings .

`` Our suppliers and key people who develop the car were our priority -- maybe not Kimi , '' Lotus team principal Eric Boullier told the official F1 website .

`` Kimi was in a similar position last year and it was all settled by the end of the year . And Genii had the plan to do the same this year .

`` It is public knowledge by now that we 've been late in paying him , and he got upset .

`` To manage the cash flow -- and I do n't mean the money itself or the budget we have , which is guaranteed by Genii , or at least most of it as we do n't have the revenue stream to allow us to live independently from Genii -- this cash flow is an issue if you have fixed costs and want to keep up the development level .

`` You have to decide where you want to spend your money . ''

Genii Capital took full control of the team -- which has raced in F1 since 1981 under its previous guises Toleman , Benetton and Renault -- from previous owner Renault in 2011 .

Ownership by a private investment company , instead of car manufacturers such as Mercedes and Fiat , which owns Ferrari , or a global company such as Red Bull , can provide a more risky financial backdrop for an F1 team .

But Boullier says that Lotus ' alternative business model does not mean it is mired in a financial crisis , as the rumors circulating in the sport would suggest .

`` Red Bull or Mercedes , those companies are sponsoring the teams , '' said Boullier , whose driver management company Gravity also has connections to Genii . `` Genii has a different strategy : they loan the money .

`` It is part of the strategy that partners join the team and Genii will get back their investment .

`` Seventy-five percent of the debt Lotus has comes from Genii . They could write it off tomorrow by saying this money is a sponsorship -- and then our debt would be drastically reduced . Our normal debt is similar to most of the other teams . ''

Genii 's strategy of choosing to bankroll the team before looking for sponsorship deals to recoup their investment is a gamble .

Having 2007 world champion Raikkonen on board would have inevitably helped attract sponsors , but now Boullier is looking at alternatives .

He says the team plans to emulate the business strategy of some of rivals , including Red Bull and McLaren , by looking for a title sponsor .

`` It is no secret that for quite a while Genii have been looking for partners to make sure that we can bring more money to the team and have access to a bigger sponsor portfolio , '' the Frenchman added .

`` We need to secure sponsors , as this is the only way to step up .

`` Formula One depends massively on the people -- and to attract the best people to a team you need to have money , to be able to build something for the long term .

`` Genii 's plan was to bring the team up within five years -- which we are trying to do -- but to move to the next step you need another five-year plan in place . And that is what we are working on . ''

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The Lotus Formula One team says it prioritizes spending on developing the car

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Driver Kimi Raikkonen is leaving Lotus at the end of 2013 because he was not paid

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Lotus is financed by investment company Genii Capital , which loans the team the money

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The team is looking for a lucrative title sponsor for the 2014 season